Nexus One vs iPhone

I'm sure that nearly everyone has heard of the new phone released by Google called Nexus One, as lately it seems to be taking up quite a bit of space in the news. Phone technology seems to be developing at the pace that computers were in the mid 1990's. Every time you buy something, within about 6 months to a year, something faster with more capacity and more capabilities is hitting the shelves. With this fast developing technology it is hard to decide whether you should buy the new technology as it comes out or wait for the next generation to emerge. I for one have learned my lesson about getting the new technology as soon as it hits the shelves. I found this out when I purchased the iPhone.

When the iPhone was released back in June of 2007 (Wikipedia) I was quick to purchase it in July of that year, and to be honest, my life has never been the same. However, with that being said, the most important lesson that I learned from that purchase is that had I waited about 2 more months, I could have saved $200 after Apple's price reduction. That is a tough lesson to learn for a Student. While Apple was kind enough to provide early adopters with a $100 store credit, I personally would have been ok with waiting the 2 extra months and saving the full $200. With all that being said, I'm curious to see what the next couple months have in store for the Nexus One.

The Nexus One is carrying a hefty price tag with it. It currently cost $529 to buy the phone unlocked and $179 to purchase it with a T Mobile 2 year contract. (Google/NexusOne) While this is very similar to Apples original price of $499 for the iPhone, Apple actually required a 2 year contract with AT&T (a terrible service provider in my opinion) in order to get that price. Time will tell if the original price of the phone will come down, but I know from experience that I will wait at least 6 months or so before I begin to evaluate whether or not I will make the switch.

With that being said I'm also curious to get some feedback on what people think about the features of the Nexus One versus the iPhone. While both phones have similar features such as GPS, camera, etc, The iPhone has a many more applications (100,000 vs 20,000). While I'm sure that more will come to the Android OS soon but for the time being that is a large difference. So in short, please let me know your thought on both jumping on new technology vs. waiting, as well as the biggest differences between the capabilities/availability of each phone.